Business and economics news
Etihad Airways Introduces Next-Generation Boeing 787 Between Abu Dhabi And Beirut

Etihad Airways today introduced the Boeing 787-9 on its scheduled daily service from Abu Dhabi, the capital of the United Arab Emirates (UAE), to Beirut, Lebanon.
The new 787 Dreamliner service replaces the Airbus A321 aircraft previously operating the airline’s EY535/EY538 flights to and from the Lebanese capital. The Boeing 787-9 features Etihad Airways’ next-generation Business and Economy Class cabins and is configured with 299 seats – 28 Business Studios and 271 Economy Smart Seats.
Mohammad Al Bulooki, Etihad Airways Executive Vice President Commercial, said: “Beirut was the first international destination served by Etihad Airways in 2003 and it is fitting that we introduce the state-of-the-art 787 Dreamliner to this key market today.
“The new two-class 787-9 provides an increase of 125 seats per flight, with 4,186 weekly seats now offered in both directions. This reflects the strong demand to Lebanon from Abu Dhabi and the entire UAE, where a large Lebanese expatriate community resides.

Lankan tea industry: Do we have a product to commemorate even after 150 years?

In my previous article of ‘Is Loolkandura or Rotschild first tea estate’, which appeared in Daily Mirror of June 7, 2017, I focused attention to this very important aspect of who planted the first tea plant and gave enough evidence to prove that it took place in 1841 and not in 1867.

Ceylon received its first tea seed at the Royal Botanic Gardens, Peradeniya, in 1839, when a consignment was sent from India by Dr. Nathaniel Wallich, who was the superintendent of the Botanical Gardens in Calcutta.

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Should we do away with GDP?

For decades, gross domestic product (GDP) per capita has been increasing in many countries in Asia and the Pacific. However, inequality has also risen and extreme climate events that can compromise economic growth are becoming more frequent.

So, are we on the right path? Does GDP alone tell us everything we should know about growth and development?

A short answer is, maybe not. GDP only measures the economic dimension of growth and ignores social and environmental welfare.

To move beyond GDP, first we need to realize its limitations. We must understand the rationale behind the indicator and why it does not accurately measure the quality of growth.

GDP calculates the market values of final goods and services in one country during a specific period. Even from this definition, we can clearly tell that there is something missing from the equation.
What about other elements of growth, such as people’s livelihoods, that don’t belong to the market? What about environmental impacts that traverse country borders and affect our children’s future?
Unfortunately, none of these are included in GDP computation. So, a country can still enjoy GDP growth regardless of the welfare of its population or even if animals and plants are becoming extinct.
GDP measures the quantity of growth – but not its quality.

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